A high-speed triumph of technology and innovation, the French classic pits world-class drivers and multi-million-dollar teams against each other in a hard-fought battle that draws well more than 200,000 spectators each year.

But the 24 Hours of LeMons is none of those things.

Intended as an endurance race for "lemons", or undesirable, barely roadworthy cars, the contest has been running for a decade in the US, where amateur drivers gather to do battle in $500 machines that would otherwise never be seen near a racetrack.

Having started out as a joke between friends, LeMons has grown internationally with well more than 100 events held since 2006. The series came to Australia for the first time this year, where organisers held a low-key race for cars worth less than $1000 at Wakefield Park in Goulburn.

Sean Patrick Herbert, Supreme Commander of the local challenge, says the event's appeal is simple.

"Most people look at a racetrack and think 'I'd like to do that one day', but most people won't do it because they can't afford it," he says.

"This is a very cost-effective, safe way to do it, and it gives you a bit of fun out on the track."

The rules are fairly simple. Teams comprise of five or six drivers, who have to bring safety gear such as helmets, race suits and fireproof boots, though they don't need a professional racing licence.

Organisers state that cars "must be acquired and prepared for a maximum of $1000", which includes race-ready modifications such as fixed-back seats and a roll cage.

A handful of parts such as such as brakes, wheels and tyres are allowed outside the cap, which is policed quite loosely. We spotted oversized brakes pinched from racecars and Mercedes-AMG performance machines that would cost well more than $1000 alone, and some of the teams were running cars that looked mighty close to the $1000 cap. A tidy 1990s Subaru WRX wagon looked pretty decent, as did a Honda Prelude VTi-R coupe of similar vintage.

Rusty Gregory with his Peugeot 306 racer. Photo: Supplied

But neither featured at the pointy end of the race, which was won by something far more pedestrian.

Teams are encouraged to thoroughly document the purchase and preparation of their vehicle, "Or at least make up plausible-sounding stories in advance", and to be wary of "BS factor" penalties that discourage teams from misleading judges.

The event has a light-hearted feel, encouraging teams to dress in costume during scrutineering checks before the race.

Their hatchback has a basket on the bonnet filled with wine, cheese and baguettes.

"Those are our bribes for the judges in case they're a little bit hungry and we need to get anything by them," Gregory says.

"We haven't done a lot with the car [but] we put a lot of effort into the stickers.

"Our plan is to go out and do laps. I wouldn't trade this for the world."

The event goes to plan, with the 24 hours of racing held over two days, allowing teams a chance to patch up their car overnight.

The event was won by the 2005 Mazda3 of "Team Matar MX5", which bought a written-off example of the modern hatch for a few hundred dollars, before selling off undamaged parts to fund their campaign. "Ravage Raceworks" was second with an EL Ford Falcon, and the "Fantastic 5" took third with its Hyundai Excel.

The fastest lap of the race, a 1m13.53s effort was recorded by the twin-turbocharged Toyota Soarer of "Old Cants n Sons", who rescued the tatty coupe from a life rotting away in a suburban front yard. The team fixed its faulty head gasket and went to work transforming the luxury coupe into a racing machine.